09-09-24 - City Council Agenda Packet

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Watermark 8th Addition Development Agreement September 9, 2024 page 12 “Private Drive”. The HOA shall be responsible for the maintenance of the private drive. e. The Open Space Easement to the City for Outlot A shall be recorded before the Quit Claim Deed from U.S. Home to the Association. f. Homeowners’ Association Covenants and Restrictions i. The Developer shall establish a Homeowners’ Association (the “HOA”) for all phases of the Development and shall submit a Master Homeowners’ Association Covenants and Restrictions to the City Attorney for review. The Master Homeowners’ Association Covenants and Restrictions shall, among other matters, provide for the collection of annual dues for the HOA’s maintenance obligation for the fence and noise wall, collectively, the “Buffer” within each phase of the Development, together with reasonable reserves. The Covenants and Restrictions shall provide that the City has the right to perform maintenance of the Buffer if the HOA fails to do so in compliance with applicable rules and regulations, and allow for the City to assess a lien or a Minn. Stat. Ch. 429 special assessment against the homesites for work which was to be paid for by the HOA dues. Homeowners’ Association Covenants and Restrictions applicable to each phase will be submitted at the time of final plat approval of each phase, and the City shall have the right to review and to approve those portions of the Covenants and Restrictions for each Community within the Development that are required by the terms of this Agreement. Any amendments to the Homeowner’s Association Covenants impairing the rights of the City shall be approved by the City Attorney. The Developer and Owner hereby waive, on their own behalves and on behalf of future owners, any procedural or substantive challenge to assessments under this section. All Covenants for the Project shall include language consistent with this section. g. Hours of Construction Activity. All construction activity shall be limited to the hours as follows: Monday through Friday 7:00 a.m. to 7:00 p.m. Saturday 9:00 a.m. to 5:00 p.m. Sunday and Holidays No working hours allowed 20. Insurance. Developer or its general contractor shall take out and maintain until one year after the City accepted the Developer Improvements, public liability and property damage insurance covering personal injury, including death, and claims for property damage which may arise out of the Developer's or general contractor’s work, as the case may be, or the work of its subcontractors or by one directly or indirectly employed